Decisions regarding an individual's eventual death are known as advance life planning. Various tools are available to assist individuals in making these decisions, such as kits to assist in will preparation, or services to assist planning for a funeral. However, since most individuals do not plan ahead for their own funerals, family members of a deceased individual typically bear the burden of meeting funeral expenses until life insurance proceeds are distributed. Loans may be available to cover funeral expenses, but obtaining a loan requires burdensome effort at an already difficult time.
Also, the death care industry is highly fragmented, and consumers are faced with myriads of choices. Often, family members make these choices while suffering the emotional strain caused by the death of a loved one. Perhaps for the first time, the family members of a deceased individual learn about estate planning and/or insurance to assist with death expenses. Unfortunately, these services are not available after death.
Therefore, there is a need for a simplified integrated approach to advance life planning and management, including better management of funeral costs.